RBI to issue new notes of Rs 50, Rs 20 denomination
These are perhaps the good days to sing along the popular and much derided Abba song, ‘Money, money, money/ Must be funny/ In the rich man's world...” When the bigger currency notes of 500s and 1000s disappear from the market, lower denomination currencies like Rs 50 and Rs 20 become prized possession, and any development on them is newsworthy.
06 Dec 2016 | 8228 Views | By Dibyajyoti Sarma
On 4 December 2016, in a press release on its website, the Reserve Bank of India (RBI) has announced that it will shortly issue Rs 50 and Rs 20 denomination banknotes in the Mahatma Gandhi Series-2005, without inset letter in both the number panels, bearing signature of Dr Urjit R Patel, Governor, Reserve Bank of India, and the year of printing, 2016, printed on the reverse of the banknote.
In case of the Rs 20 denomination, RBI will issue the banknotes with inset letter ‘L’ in both the number panels, bearing signature of Dr Urjit R Patel, Governor, Reserve Bank of India, and the year of printing '2016' printed on the reverse of the banknote.
The design and security features of these banknotes will be similar to the banknotes of Rs 50 and Rs 20 denominations with the ascending font of numerals in both the number panels and without intaglio print
Meanwhile, all the banknotes in the denomination of Rs 50 and Rs 20 issued by RBI in the past will continue to be legal tender.